LIMA, Peru--(BUSINESS WIRE)--
Graña y Montero S.A.A. (GRAM) (BVL:GRAMONC1) and its subsidiary GyM S.A. have been notified of the Official Letter No. 170-2019-JUS/SG-UFL30737, under which is reported that the Ministry of Justice and Human Rights has signed the Guarantee Trust Agreement that contributes to the payment of civil compensation, constituting a guarantee by Graña y Montero and GyM in favor of the Peruvian State under the terms and conditions of Law No. 30737 and its regulations.
The Trust Agreement has been established considering a guarantee amount of S/. 79,116,443.66 (Seventy-nine million one hundred sixteen thousand four hundred and forty-three with 66/100 Soles), as required by the Ministry of Justice and Human Rights to Graña y Montero S.A.A. and GyM S.A. through Offices No. 138-2018-JUS/SG-UFL30737 and No. 314-2018-JUS/ SG-UFL30737, under the provisions of Law No. 30737 and its regulations.
The guarantee amount of the Trust will contribute to the potential civil compensation determined by the competent authorities under the provisions of the aforementioned Law in the event that, as a result of the investigations and legal proceedings in progress, former officers of Graña y Montero S.A.A. or former officers of GyM S.A. are declared responsible in acts of corruption admitted by Odebrecht in the South Interoceanic Road Corridor Peru – Brazil Project (Tranches 2 and 3) and in the Civil and Electromechanical Works of the Electric Mass Transportation System of Lima and Callao (Tranches 1 and 2).
According to the information provided by the Ministry of Justice and Human Rights, Graña y Montero S.A.A. and GyM S.A. are the first entities subject to the provisions of Law No. 30737 that have constituted a guarantee in favor of the Peruvian State.
In this manner, Grupo Graña y Montero reiterates its commitment to collaborate with the competent authorities in the ongoing investigations and respond in the event that the investigations and proceedings in progress determine the responsibility of the former officials of the company in the acts of corruption of the projects described above.